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Financial Policies

(Please Read Carefully)

Louisiana College enforces its financial policies in order to maintain a fair, consistent and sound business relationship. These policies and regulations are established by the Board of Trustees. Students should determine that they can fulfill these financial obligations before enrolling.

Under no circumstances will a student be allowed to view or receive grades, receive transcripts, or register for subsequent semesters until all financial obligations are cleared.

Non-Refundable Expenses

No refunds in tuition and fees will be given to students whose enrollment is cancelled as a result of disciplinary action. The $25 room reservation will be applied to semester's room rent but is otherwise non-refundable.

Refundable Fee

The room damage deposit is returnable any time the student moves out of the dormitory unless there is damage to college property or the student fails to follow proper check-out procedures.

Transcripts

Transcripts are available from the Registrar's Office. No transcript, official or unofficial, will be released until a student's account is cleared in the business office and the financial aid office.

Insurance

Students must subscribe to an insurance policy of their own choosing covering hospitalization and surgery and must show proof of participation prior to registration. Students who do not have such coverage are required to subscribe to an insurance program of their choice prior to registration.

Payment Options:

Fall and Spring Semesters

Plan 1: Full payment (less financial aid*) is required at the time of registration. You may pay your bill online by logging into the MyLaCollege portal.

Plan 2: Students may choose to make monthly payments through TuitionPay administered by Higher One. This tuition payment plan is an interest-free option that breaks down the large lump-sum payments due at the beginning of each semester into easy-to-manage installments. You still owe the same amount of tuition, but you now have more time to pay and your payments are smaller and more manageable.

Students must sign up with Higher One by June 1 in order to participate in the TuitionPay plan.

Returned Checks

A fee of $20 plus bank charges will be assessed for handling each NSF check. Check writing privileges will be denied anyone who has written more than one NSF check to the college.

Drops

Courses may be dropped by the end of the last day of registration with a full refund. (See college calendar for dates.) After the last day of registration, refunds for classes are issued only if the student resigns from school. Students wishing to withdraw from all classes must officially resign from the college (see resignation schedule below.)

Refund Schedule Upon Resignation from the College

No withdrawal is official unless it is made through the Office of Academic Affairs, the Registrar's Office, the Financial Aid Office, and the Business Office. To resign from school, the student should obtain a resignation form from the Registrar's Office. The student should then obtain required signatures and clearances from various campus offices. The resignation process will be completed once the resignation form is presented to and signed by the Business Office. Refunds will be calculated as of the date the resignation process began, as noted on the resignation form. Students who withdraw unofficially will be charged the entire amount of their bill.

Enrollment at Louisiana College represents a contractual commitment by the student to fulfill all financial obligations (including repayment of financial aid) to the college regardless of when the student may cease to be enrolled.

Resignation within: Refund Percentage:1st-2nd school day* 90% less administrative fee 3rd-4th school day 50% less administrative fee 5th-10th school day 25% less administrative fee After 10th school day No Refund

*This refund schedule begins the first official day of class which is defined as the first day classes meet and not the first day of class attendance by the student.

Title IV Financial Aid Recipients

In accordance with the 1998 Reauthorization of the Higher Education Act of 1965, the refund policy for Title IV aid recipients has been changed to the Return of Title IV Funds policy. The law now defines the amount of Title IV grants and loans that the student has earned the right to use. The amount a student has earned is directly related to the length of time he or she has remained enrolled during the semester. The law requires a certain percentage of Title IV funds be returned when a student resigns before completing more than 60% of the semester for which he or she received the funds. Students receiving Title IV aid who stop attending all classes and receive all F's will be treated as unofficial resignations and may be required to pay back all or part of the aid received for that semester. Specific information and examples regarding the Return of Title IV Funds policy are available in the Office of Student Financial Aid.

Federal regulations allow institutions to exclude an administrative fee of up to $100 or 5% of the total institutional costs, whichever is less from Federal refund calculations.

Distribution of Refund Checks

Refunds resulting from drop/adds will not be made until after an audit of fees has been performed.

Refunds resulting from resignations will not be disbursed to students until both Federal and Institutional financial aid sources have been reimbursed according to Title IV regulations.

Credit balances resulting from application of financial aid will be available for refund within Federal Guidelines.